HOUSTON, Aug. 23,
2023 /PRNewswire/ -- Third Coast Bancshares, Inc.
(NASDAQ: TCBX), ("Third Coast"), the holding company of Third Coast
Bank, today announced that it has joined the Bankers Helping
Bankers (BHB) Banking-as-a-Service (BaaS) Association. The
BaaS Association is a premiere governance association whose primary
goals include BaaS education, regulatory collaboration, and
community bank sponsorship to source new revenue streams.
BaaS is a highly specialized area seeing a tremendous increase in
bank participation to meet the growing demand from Financial
Technology (FinTech) platforms and financial start-ups.
Bankers Helping Bankers launched the BaaS Association in
April 2022 via a bankers-only
platform for collaboration and education. Through data tools and
dynamic user groups, Bankers Helping Bankers provides community
bankers with a knowledge base focused on bank technology and
emerging FinTech companies, in areas such as BaaS, becoming a
sponsor bank and launching a direct digital brand.
JK Walker, Managing Director of Innovation and Regional
President at Third Coast Bank, said, "Community banking is at the
heart of Third Coast Bank's business strategy and while we have
been focusing on core business initiatives, we have naturally
stepped into the FinTech revolution where technology and innovation
are converging on exciting opportunities for customers and banks
alike.
"Our entrepreneurial spirit aligns perfectly with the
cutting-edge solutions available now due to BaaS partnerships
between a FinTech and a bank. We are thrilled to have joined
a similarly focused group of bankers building the future of
payments, service, and security in banking," concluded JK
Walker.
The BHB BaaS Association partnership will provide Third Coast
Bank with the ability to share BaaS best practices through
collaboration, stay ahead of key compliance and risk management
initiatives, and remain in close contact with regulators on the
changing regulatory environment around BaaS, as well as network
with FinTech companies looking for a BaaS bank sponsor.
"Community Banks like Third Coast Bank are the lifeblood of
small businesses and provide access to credit at the local level.
Banking-as-a-Service is bringing new opportunities to consumers and
communities through partnerships with businesses that allow banking
products to be extended, unbound by geography. We believe
this is the next step in delivering on the mission of community
banking," said Tanner Mayo,
Co-Founder of The BaaS Association.
Since its inception in 2008, Third Coast Bank has had a passion
for serving the needs of its customers and pioneering innovative
financial solutions. Now with BaaS partnerships as part of
its business strategy, the Bank can deliver on its commitment to an
even larger customer base.
About Third Coast Bank
Third Coast Bancshares, Inc.
(Nasdaq: TCBX) is a commercially focused, Texas-based bank holding company operating
primarily in the Greater Houston,
Dallas-Fort Worth, and
Austin-San Antonio markets through
its wholly owned subsidiary, Third Coast Bank. Founded in 2008 in
Humble, Texas, Third Coast Bank
conducts banking operations through 16 branches and one loan
production office encompassing the four largest metropolitan areas
in Texas. For more information, please visit
www.tcbssb.com.
About The BaaS Association
The BaaS Association is the
voice of the BaaS (Banking-as-a-Service) industry. The association
promotes, supports, and advocates for BaaS sponsor banks which help
serve millions of customers in a safe and compliant manner. The
BaaS association represents over 80% of current BaaS sponsor banks
operating across the United States.
The BaaS Association provides education, collaboration, and
best-in-class practices that serve the unique needs of BaaS Sponsor
banks. The BaaS Association also helps establish sound bank-fintech
partnerships, including those who provide banking services for
underbanked and underserved communities. For more information,
visit www.baasassociation.com.
Forward Looking Statements
This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that are
subject to risks and uncertainties and are made pursuant to the
safe harbor provisions of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements reflect our
current views with respect to, among other things, future events
and our financial performance. These statements are often, but not
always, made through the use of words or phrases such as "may,"
"should," "could," "predict," "potential," "believe," "looking
ahead," "will likely result," "expect," "continue," "will,"
"anticipate," "seek," "estimate," "intend," "plan," "projection,"
"would" and "outlook," or the negative version of those words or
other comparable words or phrases of a future or forward-looking
nature. These forward-looking statements are not historical facts,
and are based on current expectations, estimates and projections
about our industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, we caution you that
any such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions and uncertainties
that are difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements. There are or will be important factors
that could cause our actual results to differ materially from those
indicated in these forward-looking statements, including, but not
limited to, the following: interest rate risk and fluctuations in
interest rates; market conditions and economic trends generally and
in the banking industry; our ability to maintain important deposit
relationships; our ability to grow or maintain our deposit base;
our ability to implement our expansion strategy; our ability to
successfully execute on our efficiency, fintech and other internal
initiatives; credit risk associated with our business; and changes
in key management personnel. For a discussion of additional factors
that could cause our actual results to differ materially from those
described in the forward-looking statements, please see the risk
factors discussed in our Annual Report on Form 10-K for the year
ended December 31, 2022 filed with
the U.S. Securities and Exchange Commission (the "SEC"), and our
other filings with the SEC.
Contact:
Ken Dennard / Natalie Hairston
Dennard Lascar Investor
Relations
(713) 529-6600
TCBX@dennardlascar.com
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SOURCE Third Coast Bancshares